How do you win the trust of online consumers?

26 maart 2019

Dutch consumers are more prepared to share their personal data when they can recognize the benefits involved. That information was outlined in the Global Fraud and Identity Report by Experian. The report shows that security (65 percent) and user-friendliness (30 percent) are factors in winning consumer trust. Unfortunately, that sounds a lot easier than it is in reality.

Dutch consumers are more prepared to share their personal data when they can recognize the benefits involved. That information was outlined in the Global Fraud and Identity Report by Experian. The report shows that security (65 percent) and user-friendliness (30 percent) are factors in winning consumer trust. Unfortunately, that sounds a lot easier than it is in reality.


Online trust

Winning online consumer trust is definitely an uphill battle. When a company invests in one element, consumers are often expecting the opposite. Consumers are critical and demanding. Online safety and user-friendliness are polar opposites, but both are essential to a positive online experience. Communication seems like a great way to earn trust: 74 percent of Dutch consumers are prepared to share additional data once they have had online communication with the company in question.


Risk of fraud

Security and ease of use provide a stable basis, allowing consumers to have an enjoyable online experience. Any information consumers share is essential in providing that experience. That sounds like a positive thing, but there can be a downside, too. Processing that shared information automatically increases the risk of fraud. Offering a safe online environment is essential in avoiding identity fraud. 

 

Investing in consumer trust

Investing in fraud prevention remains important. Especially now that online fraud has increased by 53 percent.

As an organisation, it’s important to act transparently in order to win consumer trust. Thankfully, companies are starting to see the need for transparency. Forty percent of companies in The Netherlands are planning to increase their investment in transparency. Examples are:

  • Educating consumers
  • Improving communication of terms and conditions
  • Giving consumers control over their personal data

 

New forms of technology

These days, there are many new forms of security that can give a boost to your trustworthiness online. One of those new techniques is facial recognition. Applying this as a form of identification for your company can increase consumer trust by 31 percent. Slowly, more companies are embracing these technologies. More than half of organisations has indicated increased budgets for fraud management.

 

Providing a safe environment

Identifying individuals and companies is essential in creating a safe work environment. Fraud prevention and protecting each other’s identity will only become more important in the coming years in light of the growing online world. Curious to know how you can create a safe work environment? Take a closer look at the DataChecker solutions.